Qualcomm Acquires Black Sand Technologies

Qualcomm Inc. (Nasdaq: QCOM) confirmed that it acquired the Austin-based company on June 18, but terms of the deal were not revealed. Black Sand Technologies builds advanced power amplifier technology for wireless applications.

According to a source familiar with the deal, it also has the largest related IP portfolio in the industry, which is likely as important to chip giant Qualcomm as the technology itself.

Black Sand was founded in 2005 and had raised $28.2 million in funding. Qualcomm's shares were trading down 2% to $78.76 after the close of market Tuesday.